HOUSE BILL No. 2185
An Act concerning improvement districts; concerning the issuance of
amending K.S.A. 19-2777 and repealing the existing
Be it enacted by the Legislature of the State of Kansas:
Section 1. K.S.A. 19-2777 is hereby
amended to read as follows: 19-
2777. (a) Except as provided by subsection (b), any revenue
under the provisions of
this act K.S.A.
19-2776, and amendments thereto,
shall mature serially or otherwise
Provided, That all of
said. Such bonds
shall mature within a maximum period of
(30) 30 years from the
issue issuance and shall bear
interest at a rate not to exceed the
maximum rate of interest prescribed by K.S.A. 10-1009, and
(b) Any revenue bonds issued under the
provisions of K.S.A. 19-2776,
and amendments thereto, and sold, pursuant to written agreement,
government of the United States of America or any bureau,
instrumentality or agency thereof, shall be issued to mature in
than 40 years and shall bear interest at a rate not to exceed
rate prescribed by K.S.A. 10-1009, and amendments thereto,
such times fixed by the board of directors of the improvement
issuing the same. The bonds shall mature serially or otherwise,
may be in
coupon or registered form and interchangeable, and shall have
terms and provisions as the board of directors of the
provides by resolution or trust agreement.
Sec. 2. K.S.A. 19-2777 is hereby repealed.
Sec. 3. This act shall take effect and be in force
from and after its
publication in the Kansas register.
Approved March 28, 2001.
Published in the Kansas Register April 5, 2001.